Coherent (COHR)

Information Technology · $44.4B market cap · SEC CIK 0000820318

Next reports on Feb 2, 2027, with analysts expecting $2.45 in earnings per share.

52-week range $130.42 to $440.00. 51% below its 52-week high and 65% above its low.

The case for COHR

• Revenue up 30.8% on the year.
• Earnings per share up 283.9%.
• Has compounded revenue at 18.0% a year over five years.
• Current assets cover the near-term bills 2.3 times over.

The case against

• Burned $1.0B of free cash in FY2026.
• Long-term debt of $3.2B would take 40 years of operating cash flow to repay.
• Swings harder than the market (beta 2.24).
• Free-cash-flow yield of −2.3% is lower than 97% of Information Technology companies.
• The price trend is weak (36/100): +21.0% over a year, −49.1% over three months, 51% below its 52-week high.

What the score is made of

Each factor is half a curve over reported figures and half a rank among the other Information Technology companies (momentum is judged against fixed thresholds only), and the five are blended by weight. The score is where that blend places it in the S&P 500. It describes the last filing and the current price. It is not a forecast.

• Each factor except momentum is half fixed thresholds, half rank among the 73 Information Technology companies.

The financials

The financials, five years deep

Pulled from Coherent's XBRL filings on SEC EDGAR. Italic rows are worked out from the others.

What Coherent says it does

Definitions Coherent Corp. (“Coherent,” the “Company,” “we,” “us,” or “our”), is a vertically integrated manufacturing company that develops, manufactures, and markets lasers, transceivers, and other optical and optoelectronic devices, modules, and systems, as well as engineered materials, for use in the data center, communications and industrial markets. Our headquarters are located at 375 Saxonburg Boulevard, Saxonburg, Pennsylvania 16056, USA. Our telephone number is +1-724-352-4455. Reference to “Coherent,” the “Company,” “we,” “us,” or “our” in this Annual Report on Form 10-K, unless the context requires otherwise, refers to Coherent Corp. and its wholly owned subsidiaries. The following defined terms are used in this Annual Report on Form 10-K: artificial intelligence (AI); bismuth telluride (Bi 2 Te 3 ); carbon dioxide (CO 2 ); continuous wave (CW); co-packaged optics (CPO); datacenter interconnect (DCI); deep ultraviolet (DUV);…

Risk factors COHR lists in its 10-K

• Our competitive position depends on our ability to develop new products and processes and may require significant investment
• A significant portion of our business is subject to cyclical market factors and we may fail to accurately estimate the size and growth rate of our markets and our customers’ demands
• Products that fail to meet specifications, are defective, or are otherwise incompatible with end uses could impose significant costs on us
• We may encounter increased competition, and we may fail to accurately estimate our competitors’ or our customers’ willingness and capability to backward integrate into our competencies and thereby displace us
• We may not be able to achieve expected returns from strategic investments, including capacity expansions
• We depend on highly complex manufacturing processes that require strategic materials, components, and products from limited sources of supply
• Increases in commodity prices and diminished availability of rare earth minerals and noble gases may adversely affect our results of operations and financial condition
• We purchase a significant amount of the materials and components used in our products from a limited number of suppliers
• Cybersecurity attacks and incidents and other vulnerabilities could subject us to costly damages, claims and expenses, harm to our reputation or competitive position, or disrupt our operations and business
• We may be adversely impacted by any of the multiple uncertainties and outcomes associated with the use and evolution of AI
• Natural disasters or other global or regional catastrophic events could disrupt our operations, give rise to substantial environmental hazards, and adversely affect our results
• We may be unable to successfully implement our acquisitions strategy, integrate acquired companies and personnel with existing operations, or capitalize on any decision to strategically divest one or more current businesses
• Our success requires us to attract, retain, and develop key personnel and maintain good relations with our employees
• Actions that we are taking to restructure our business in alignment with our strategic priorities may not be as effective as anticipated
• If our goodwill or intangible assets become impaired, we may be required to record a significant charge to earnings
• There are limitations on the protection of our intellectual property, and we may from time to time be involved in costly intellectual property litigation or indemnification
• Legal, regulatory, and administrative investigations, inquiries, proceedings, and claims could have a material adverse effect on our business, results of operations, or financial condition
• We are subject to complex and rapidly changing domestic and international laws and regulations, including import and export regulations of the countries in which we operate and/or sell which could limit our sales and decrease our
• profitability, and we may be subject to legal and regulatory consequences if we do not comply with applicable laws and regulations
• Our operations are subject to environmental, health and safety risks and requirements which could adversely affect our business, results of operations, and reputation
• Tax-related matters could have a material adverse effect on our business, results of operations, or financial condition
• Foreign currency risk may negatively affect our revenues, cost of sales, and operating margins, and could result in foreign exchange losses
• We have a substantial amount of debt, which could adversely affect our business, financial condition, or results of operations and prevent us from fulfilling our debt-related obligations
• The agreements that govern our senior credit facilities and our 5.000% senior notes due 2029 contain various covenants that impose restrictions on our business, which may affect our ability to operate our businesses
• The trading price of our common stock has been, and may continue to be, volatile
• Our ability to declare and pay dividends on our capital stock may be limited, including by the terms of our existing Credit Agreement
• Our common stock is subordinate to our existing and future indebtedness, and any preferred stock we may issue in the future

Filings

Other Information Technology companies